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MILWAUKEE -- A man was killed after officials with the Milwaukee Police Department say he ran at officers with a knife on Milwaukee's north side early Saturday, July 23rd. Police say he was a suspect in a fatal stabbing hours earlier.

Officers fatally wound homicide suspect near 5th and Clarke

MPD officials say officers responded to the neighborhood near 5th and Clarke just before 12:30 a.m. to investigate the stabbing.

The victim, a 64-year-old Milwaukee man, was stabbed by the suspect, a 49-year-old Milwaukee man.

"It needs to stop. It needs to stop," said a neighbor.

Neighbors woke up to commotion outside their windows on Saturday morning.

"The only thing that I heard was, 'if you don't give me my money, I'm going to kill you,'" said a neighbor.

Officers fatally wound homicide suspect near 5th and Clarke

Those who live close by say the victim and suspect in the stabbing were neighbors and had an ongoing dispute.

Officers fatally wound homicide suspect near 5th and Clarke

"We knew something was going to happen sooner or later, but not this drastic," said a neighbor.

The suspect fled the area and the victim died from stab wounds while being taken to a hospital.

While police were on scene investigating, the suspect returned to the area.

"Here the guy comes in the middle of the street with a knife with blood still on it coming toward police," said a neighbor.

The neighbor, who did not want to be identified, watched from his window.

Officers fatally wound homicide suspect near 5th and Clarke

"They kept hollering 'drop the knife. Drop the knife.' He kept saying 'and what? And what?'" said a neighbor.

As the man got close, the situation became more intense. Multiple officers discharged their firearms -- striking and fatally wounding the suspect.

"Never seen nobody get killed," said a neighbor.

Officers fatally wound homicide suspect near 5th and Clarke

"I've been thinking about it ever since this morning. That's something you don't get over," said a neighbor.

The suspect has an arrest record with the Milwaukee Police Department, was a convicted felon, and was on probation for strangulation.

Officers fatally wound homicide suspect near 5th and Clarke

No officers were injured as a result of this incident.

Officials said it's too early to tell how many weapons or shots were fired.

Officers involved will be placed on administrative leave as is standard procedure.

The Wisconsin Department of Justice, Division of Criminal Investigation will be investigating the officers' use of force.

More information about the incident, including officers' ages and identities of the homicide victim and suspect will be released in the coming days.